BERLIN (dpa-AFX) - German automotive and industrial supplier Schaeffler (SCFLF.OB) said Sunday that it agreed to acquire Ewellix Group from Triton Fund V for a purchase price of about 582 million euros.
The purchase price does not include the net debt of Ewellix of about 120 million euros,which will be assumed by Schaeffler. Closing is expected to occur end of 2022.
Ewellix Group is a manufacturer and supplier of linear motion solutions, which incorporate state-of-the-art design and development, manufacturing expertise as well as application technology and digitization.
Ewellix Group reported revenues of about 216 million euros in the year 2021. It expects revenues of more than 250 million euros for 2022. The Group operates six production and customizing sites in Europe, the U.S. and Asia and employs 1,196 employees as of 30 June 2022.
The transaction is expected to lead to an improvement in earnings per share of Schaeffler AG in the mid-single digits already in 2024.
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